Exact terms of the agreement have not been revealed, but it is a one-year deal. Chavez signed a one-year, $3 million deal with the Diamondbacks before the start of the 2013 season.
The 36-year-old third baseman reportedly had been courted by several other teams but decided to return to Arizona on a one-year deal. Chavez has had his home in nearby Scottsdale for several years.
From the 2007-2011 season, Chavez never played in more the 90 games and played in just 64 game from 2008-2010. Chavez saw a bit of a career rejuvenation in 2012 with the Yankees when he hit .281, had an on-base percentage of .348, slugged .496, hit 16 home runs and drove in 67 runs in 113 games.
The injury bug bit him again in 2013. He hit just .281, had an on-base percentage of .332, slugged .478, hit nine home runs and drove in 44 runs. However, he played in just 80 games.
Chavez has always been known as an excellent fielder, winning six gold gloves in his career.